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Faseeh Mangi Profile picture
Faseeh Mangi
@FaseehMangi
Pakistan Bureau Chief, Bloomberg. My views. Tweets not publishable. MUFC
Nov 22 • 11 tweets • 5 min read
Pakistan is seeing a mad solar rush

Its the third-largest destination for Chinese panels. Some traders have imported up to 250MWs in a month

Panels are so cheap that the frames they’re mounted on cost more now | thread 🧵 on our deep dive project bloomberg.com/news/articles/…Image "The numbers are staggering"

About $1.7 billion of solar panels have been imported this year, that would equate to 17 gigawatts of generation and more than a third of Pakistan’s entire total power capacity if deployed bloomberg.com/news/articles/…Image
Nov 1 • 8 tweets • 4 min read
Pakistan's Brightest Are Deserting the Country in Record Numbers

Economic storm is pushing out accomplished citizens. A million skilled people have left in three years | Thread on this long read bloomberg.com/news/features/…Image Why are they leaving?

Prices for items like cars and ACs are now out of reach for most Pakistanis, with the cost of milk in Karachi surpassing what it would be in Paris.

Prices for 51 essential items in Pakistan’s inflation basket have almost doubled on average since 2022 Image
Nov 15, 2021 • 6 tweets • 2 min read
THREAD: Pakistani financial platform Abhi that allows salaried employees to access funds before payday raised funds at a $40 million valuation just four months after its launch. Its gotten a new investor into Pakistan too 1/5 ⚪️UAE-based Global Ventures invested for the first time in Pakistan
⚪️“Pakistan has trailed in its adoption to the internet economy and startup formation,” Noor Sweid, general partner at Global Ventures. “The startup boom in Pakistan is attracting global attention.” 2/5
Aug 24, 2021 • 4 tweets • 1 min read
THREAD: Pakistan small grocery stores are one of the largest segments in the nation’s $170 billion retail industry. Everything is done manually 1/4 One startup saw an opportunity. They went door-to-door across Karachi to gather data and acquire customers. They found out each mom-and-pop store met 100 suppliers a week or more to get inventory, now they buy through from its app 2/4
Dec 30, 2020 • 10 tweets • 2 min read
THREAD: Former tax chief Shabbar Zaidi who many hoped would be the best bet to fix Pakistan’s tax system but left in less than a year made some very candid comments in a webinar /1 Pakistani businessmen have stashed $150 billion offshore after making those in profits through local businesses, claims Zaidi. They would make more returns on those in Pakistan but there is the fear factor of the unknown/2
Sep 14, 2020 • 5 tweets • 2 min read
Pakistan is showing signs of business activity picking up at a faster clip. Evidence of momentum returning can be seen from growing cement-to-fuel sales and demand for home appliances to cars | My latest bloomberg.com/news/articles/… Image Cement sales rise near all-time high after lockdown ends and construction package /2 Image
Aug 29, 2020 • 8 tweets • 4 min read
Many people in Karachi are in the dark without electricity after 60 hours. They most possibly dont have water anymore while or contact to the outside. Not even talking about work or study deadlines 1/5 #KarachiRain Image I’ve seen three street protests with people throwing stones and blocking roads today. Two on boat basin road and another near lilly bridge 2/5 Image
Aug 23, 2020 • 4 tweets • 2 min read
Prime Minister Imran Khan mentions Pakistan's three biggest challenges in recent interview
- Debt payment
- Pensions
- CA deficit and impact on currency Image Khan's concern about unnecessary expenses is truly great. He even compared his foreign trip cost with those by previous leaders
Khan $1.5 lac
Sharif $12 lac
Zardari $14 lac
Aug 7, 2020 • 7 tweets • 3 min read
Thread on key points from CPEC and Gwadar webinar where Chinese ambassador, CPEC Chairman Asim Bajwa and others spoke Image Many firsts by Gwadar Port this year , says @BaozhongGwadar

- DAP fertilizer bagged at Pakistan port
- First Afghan transit cargo
- LPG cargoes handled /2 Image
Jul 30, 2020 • 29 tweets • 10 min read
We are asking for trouble. Same observation here https://t.co/MaWc1ItCjr Virus pressure is easing in Pakistan 🇵🇰 For the first time in three months, Nishtar Hospital in Multan didnt have a single virus patient in ICU yesterday via @Baloch__777 Image
Jun 29, 2020 • 6 tweets • 3 min read
What we know:
- Four gunmen tried to storm stock exchange but failed
- It seemed to be a planned hostage situation
- Balochistan Liberation Army claimed responsibility that attacked Chinese consulate in a similar-styled attack two years ago
bloomberg.com/news/articles/… The benchmark stock index dropped after news of the attack but closed up 0.7% in Karachi. Trading continued smoothly despite the attack since major traders don’t sit at the exchange building, said @sohailkarachi /2 bloomberg.com/news/articles/…
Jun 24, 2020 • 12 tweets • 4 min read
JUST IN: The reason Karachi is facing unannounced prolonged outages is that K-Electric is facing an oil shortage Image Karachi’s unannounced long outages for days because of oil shortage means there is some massive mismanagement, says an experts. Pakistan’s power regular has also asked for an explanation /2 Image
Jun 17, 2020 • 11 tweets • 3 min read
Pakistan 🇵🇰 budget thread from my interactions with economists, current and former govt officials 1/ Most agree that Pakistan’s economic growth, fiscal deficit and revenue targets will be missed. Figures are likely to be very very different at the end of the year /2
May 22, 2020 • 7 tweets • 3 min read
What we know:
- 99 passengers, at least two survived
- It crash landed in a neighborhood damaging 20 houses
- The A320 narrow-body jet was built in 2004
bloomberg.com/news/articles/… “Sir, we have lost engines,” the pilot said to a controller, according to the LiveATC recording.
About 30 seconds later, the pilot again radioed a distress call: “Mayday. Mayday. Mayday.”
bloomberg.com/news/articles/…
Apr 20, 2020 • 4 tweets • 2 min read
🚨 Oil Falls Below $2 in New York, Down Over 90% Overall🚨 Image Technical oddity exacerbated the price plunge as traders fled the May futures contract ahead of its expiration tomorrow, the lowest level since 1983. The following month’s contract fell 11% to $22.22 a barrel google.com.pk/amp/s/www.bloo… Image
Apr 9, 2020 • 4 tweets • 2 min read
Disinfectant Sales Help Pakistan Descon as Most Clients Shut | my latest
bloomberg.com/news/articles/… Image Descon shares have surged over 50% in about two weeks since it began selling hydrogen peroxide disinfectant for the virus, to banks such as MCB Bank Ltd., Faysal Bank Ltd. and many more Image
Mar 18, 2020 • 5 tweets • 2 min read
Pakistan’s stock market had its worst day in 18 years Image Pakistan’s stock market three-day drop comes to 16%. Last time such a fall happened was when Pakistan and India did nuclear tests in 1998 that triggered a global uproar Image
Mar 17, 2020 • 7 tweets • 2 min read
Pakistan's central bank is going to announce the rate soon. The decision seems to whether the cut will be big or small /1 Image Why will there be a cut? Inflation has dropped from peak 14.6% and expected near 10% next month, opening up a gap from 13.25% interest rate. Governor has said they consider future inflation trend Image
Mar 15, 2020 • 149 tweets • 55 min read
One very impressive incident was when a few people returned home in the area from Iran. Authorities went to the house and took them for quarantine. Pakistan can have 40,000 to 120,000 cases by end of March
Mar 12, 2020 • 6 tweets • 2 min read
Pakistan's stock market halted for a second time this week, following global market meltdown Rough day
- Pakistan’s top stock index falls like its 2008
- Global investors sell $251m bonds in a single day
- Rupee drops for 4th day to 159.1 a dollar. It was 154 on Friday Image
Mar 9, 2020 • 4 tweets • 2 min read
Pakistan’s Stock Market Halts Seven Minutes After it Opened bloomberg.com/news/articles/… Image Pakistan stock drop is a mild move compared with what is happening globally. Still, the 6% drop is its biggest move since 2006. It has recovered since, now down 3.5% bloomberg.com/news/articles/…